Sadara Basic Services Company announced that its parent company, Sadara Chemical Company, recorded a net loss of 882.8 million riyals in the third quarter of 2024, an increase of 7.7% compared to the 819.6 million riyal loss in the same quarter last year. This follows the company’s disclosure of preliminary financial results for the period ending September 30, 2024 (nine months).
The operating loss for the third quarter was 324.2 million riyals, up from 140.2 million riyals in the same quarter of the previous year, reflecting an increase of 131%. Net losses for the nine-month period amounted to 2.8 billion riyals, a 16% reduction from the 3.3 billion riyal loss recorded in the same period last year.
The loss per share for the current period was 0.82 riyals, compared to 0.97 riyals in the same period last year.
